DECLARATION AS A NOTIFIED JURISDICTIONAL AREA UNDER SECTION 94A OF THE INCOME TAX ACT, 1961 – CLARIFICATION PROVIDED BY MINISTRY OF FINANCE, GOVERNMENT OF CYPRUS.

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..... t, 2013 stating that it has taken the decision to notify Cyprus as a notified jurisdictional area under section 94A of the Income-tax Act, 1961 . The Ministry of Finance of the Republic of India has taken the above unilateral measure, considering that in their view the information provided by the competent authorities of the Republic of Cyprus, under the existing double tax treaty between Cypr .....

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..... clarification can only be resolved through direct consultations between the concerned competent authorities, which have been agreed to take place within November 2013. The Government of the Republic of Cyprus reiterates its commitment for holding direct negotiations with the Government of the Republic of India with the aim of finalising the long pending review of the double tax treaty between Cy .....

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